Infiniti G37 Lease Questions

javac

I got $4,000 for my trade-in so it technically it was,
$3,710.86 down
$289.14 first months payment (including tax)
My MF was the same one you were quoted..maybe that quote you received is for 15,000 miles per year which would affect the residual??
I'm in NC & here for the base model dealers are offering $299/mth for a 24 mth lease,12,000 miles/yr. First the dealer marketed $325/mth, then it was dropped to $299. They were requiring $3,592.98 total due at signing which seemed high to me for a base model. They also said, "For every thousand you lower the down payment, the monthly payment will rise roughly $45 per month. If you want to put down $1000, you payment will be about $445." I'm guessing they were using a different money factor. I put down roughly the same amount, but ended up with the fully loaded model for less per month.
I hope this helps...

javac

I read somewhere that they would be roughly $1,500 more than the '06's?? I asked my dealer last week & he said that sounds about right but couldn't confirm. The finance guy did tell us that as far as profits, they make most of their $$$ when the newer models come out..only 20% are usually sold below invoice. Since they arrive at dealers in Nov. I would expect to pay $1,000 or so over invoice minimum.

politicssusual

Thanks javac. Appreciate the info. What do you think the possibilities of me getting it with premium package (no navi) for like 450 a month?.. because thats all I can really spend

politicssusual

I forgot to add that I have a 1997 Jeep grand cherokee for a trade in. Im guestimating its worth like 3g's

javac

I'm honestly not sure. The finance guy did mention that they lease ALOT of base models...I guess b/c Infiniti offers such good MF rates. I would think the MF would be the same whether you went w/the base, or got any of the Prem. packages. I used this site to help me determine how much my payments would be http://www.leaseguide.com/calc.htm
Just click "Start" & it will let you plug in the numbers.

javac

I was wondering if you had a trade-in. With $3k down you should get close to what you want to spend...I think It will depend on the MF & sales tax where you live though too.

politicssusual

8.375% is my sales tax in nyc. But I would be purchasing it in New Jersey. Does it hold the rate for NJ.. or NY? I know its kind of a stupid question... but im very new to this. What does the MF rate entail? Thanks again for your time

ncognito13

Thank you very much Car_man for ALL your help and insight on this and the other Infiniti forum...It is greatly appreciated here. Thanks again..

herro91

Sorry for my late reply, I live in Maryland. Appreciate your assistance in calculating the sales tax.

CarMan@Edmunds

Welcome bsjak01. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

You are already ahead of most people who have never leased before because you were smart enough to get a ton of important information about the car that you are considering leasing. Many people only focus on the monthly payment. The selling price that you were quoted for this car, $300 over dealer invoice, looks good to me. The money factor that you were quoted is right in line with Infiniti Financial Services' buy rate for this car as well. The two main profit centers for dealers look good to me. If you like the car, I personally don't see any reason not to go for it.

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CarMan@Edmunds

Greetings Rob. For a leasing rookie you have done a great job of collecting the important information and negotiating an attractive deal. Good job. The money factor that you were quoted is right in line with Infiniti Financial Services' current buy rate for a 39 month lease of a 2006 2WD G35 Sedan. A selling price of below dealer invoice on a lease is good as well. If you like this car I personally don't see any reason not to pull the trigger on this deal.

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CarMan@Edmunds

Congratulations on your new ride, javac. Thanks for taking the time to share the details of your deal with everyone. Real world examples of deals like yours are very helpful to people who are in the market. Enjoy!

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CarMan@Edmunds

Hi malosiaga. Keep in mind that the selling prices of leased vehicles are negotiable. While the advertised lease payment that you saw probably assumes some sort of dealer discount, most manufacturers' advertised lease payments leave a little meat on the bone so to speak. Given the fact that many community members have reported getting G35 Sedans for fairly close to dealer invoice lately, I would not be surprised if you were able to beat the advertised deal by haggling a little bit.

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CarMan@Edmunds

I'm glad that you like this site so much, az_shopper. The money factor that you were quoted for this car is right in line with Infiniti Financial Services' current buy rate for it. This is a good sign because it means that the dealer that you are working with is not trying to mark up your car's factor to add additional back-end profit to your deal. The selling price that you were quoted for this car looks good as well. It appears to bee right at or slightly over dealer invoice. The two main profit centers for dealers look good to me. I personally don't see any reason not to pull the trigger on this deal if you like the car.

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CarMan@Edmunds

You're very welcome, ncognito13.

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CarMan@Edmunds

Thanks for the additional information, herro91. I am not personally familiar with how sales tax is calculated on leased vehicles in your state. You may be able to find out by visiting one of the following sites: Comptroller of Maryland or Maryland Motor Vehicle Administration.

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pvtjet

Hello Car_Man,

What credit scores and credit bureaus qualifies for Tier 1 credit for Infiniti? Can you tell us the money factors for scores below Tier 1? My scores range from a low of 684(Equifax) up to 727 (TransUnion). I think I could get Teir 1 but would like to know what to expect before I start talking to dealers.

Thanks.

javac

Thanks Car_Man for your expert advice! I read lots of info you gave others in the forum which really helped me get what I think was a really good deal. Thanks again.

javac

MF is basically the total finance fees you will pay over the term of the lease. On the lease contract it's called the "Rent Charge." To convert the MF to APR, you just multiply by 2400. So my MF was .00052 which makes my APR 1.25%. Always asks the dealer what the MF is & calculate APR to determine whether you're getting a good rate. This is what helped me http://www.leaseguide.com/lease08.htm

Now, where I live sales tax is 7.5% so I was using that % to estimate my payments, but it turns out it's only 3% for cars (in my state). I'm not sure about whether or not you would pay taxes for NY or NJ though.

chloetan

Hi all,
I'm a first timer here. It's so interesting reading the msgs. Anyways, I'm going to lease a G35 Coupe this labor day weekend *Nervous*. I just want basic model cuz a lady doesn't need much. I went on the edmunds.com and somehow got to carsdirect.com and thus requested car quotes. Cardirect got back to me on the following deals, is this consider a good deal?

G35 Coupe Base (A5) w. upgraded tire and wheels
12,000 miles
24 mths
Drive off $1409 ($550 bank fee, $483 first mth, $323 registration, $45 doc fee, $8.75 tire recycling fee)
MSRP $34500
Invoice $31745
MF 0.00048
$483 mth payment including tax

Help Help!

klizmaaa

The dealer I spoke when I leased my Car told me 680 and above is Tier 1 Credit.

Good Luck with the Car

javac

Hi there,
I was a first-timer too, but after doing lots of research & reading the posts here I felt much more comfortable. I'm no expert, but when I read your post the 1st thing I thought of was whether or not you are planning to negotiate the selling price. Unless that $31745 is the deal you already negotiated...

chloetan

Hi Javac,
Yes I'm going to negotiate. Actually got another quote today at this amount, what do you guys think?

2006 G35 Coupe (A5) w. Splash Guard & Trunk Mat (Add $290)
MSRP 34,140
Cap Cost 31,402
Residual 72%
MF 0.00216
Drive off 796.84 (Bank fee, 1st mth payment, etc)
Monthly Payment 476.96 including tax
Sales Tax 8.25%

I'm tryin to get this dealer to give me the quotes in writing, but sense he keeps giving me excuses. Should I commit?

javac

If he won't give you a quote in writing I wouldn't commit. Hopefully Car_Man will be able to provide you w/his input too since he's the expert. With this deal, to me it seems like your MF is pretty high compared to what Infiniti normally offers. .00216 = 5.18% This guide may be helpful http://www.leaseguide.com/calc.htm You just plug in the numbers & it will calculate your payments.
You may also want to check on the sales tax for leases in your state. Sales tax in my state is 7.5% but on my lease it was just 3%.

chloetan

Thanks Javac. Yes, CarMan, please comment. Truly appreciate your help!

Is this MF high? How should I go about negotiating everything? The dealer keeps asking me to go into dealership in order to cut me a good deal. That's too tricky eh?

ncognito13

If the dealer will not give you anything in writing you should be COMMITTED if you deal with them. The money factor is equal to 5.2% APR.

DO NOT BE A SUCKER to any dealer that will not shoot straight. DON"T WALK...RUN AWAY from this dealer. He will cheat you down the road if he refuses to put anything in writing NOW. If the deal is legit...ask yourself why won't he put it in writing.

I am about to walk away from a deal that I put 650 down on my credit card. Long story short..the dealer tried to deliver a car that was unacceptable. And now he has not sent me the new paperwork with all the figures, the new figures, on the new car they got for me. They were supposed to be mailed to me on Monday. If I do not have them by Sat I am emailing them to cancel the deal. And if they balk....I will contact my credit card company and get the money back from them.

YOU CANNOT let any car dealer treat you like you are a fool. That is what this clown is doing to you. WALK AWAY....there are manyh other cars to be bought....DON"T BE INTIMIDATED.

Read some other HORROR STORIES on here and on Fresh Alloy.com if you think it cannot happen to you. You are about to spend a lot of money...the dealer should respect that and you....Catch my drift here....

javac

Sorry this is so long...
From what I've seen others post & my own experience, yes, that MF is too high. If you have reservations about this dealer, I wouldn't go in.

When I decided how much I would pay, etc. we called the dealership & told them what we wanted to pay. They said they would get back to us which they did. Eventhough we agreed verbally, we didn't have anything in writing (they can't quote you on a trade-in over the phone anyway).
They only had 1 avail. in the color I wanted w/NAV, but it had some other add-ons I hadn't planned on getting. Once I got a list of all the add-ons I looked up the TMV on Edmunds & printed it out.

I hadn't even driven the car so I went in the next day for a test drive, then we sat down to run the numbers. At first they didn't want to give me as much as I wanted for my trade-in but I wasn't going to budge (because I had researched the value & felt I was being fair). We were firm, but not rude or overly aggressive & they agreed (after going back & forth twice). They were just doing their job, and I was doing mine. At one point he even asked if he could take my TMV report into his office to get to the number I wanted (b/c we were firm about not paying more). I was surprised at how well we were treated...b/c you always hear such horror stories.

I had even printed out info on how to review the contract because 1 typo can cost you. In my case the finance guy had put in the residual % for a 15k mile lease, rather than 12k like I wanted.. I think it was only a 1% diff. but it raised my payment enough for me to question it. Don't be afraid to print out your notes & take them with you. When they jokingly mentioned they weren't going to make any $$ on the deal I mentioned the 1% holdback Infiniti gives all of their dealers (which I found on Edmunds) which they couldn't deny

chloetan

Yiks! Alrite, I will be prepared Thanks, ncognito13 and Thanks Javac!

tsp

Hey all,

Been around the block a few time when you lease a car the manufacture always pre-factors in the incentive to the lease. If they gave you the $2000 or $2500 as well as the special lease you would be getting the best of both. herri91. Also remember everyone needs to make a "fair" profit. We don’t negotiate out doctors or anything else in life except car. Shoot house's we pay over asking price for.

All I’m saying is don’t hold it against the guy for trying to make some money... Just be smart and say NO but here is what I will take

jnpurdy

2006 Infiniti G35 4Door - Premium Package
Deal offered:
MSRP $35,800
Cap Cost (Market Value): $30,508.75
Cash Down payment: $5,000
39 Month Residual: 56% or $20,048
Lease Factor: .00101

Questions:
1. To what degree is the residual percentage negotiable? I ask because the monthly payment was computer generated, but the residual factor was hand written.

2. Is .00101 a good factor? The deal expires on 9/5/06. Like the residual factor, these were hand written too.

3. Is the bank fee negotiable? Seems that there would be a middle ground between doc fees and bank fees.

Any other comments on how to negotiate this would be appreciated. I'm thinking that we are at the end of the model year, and there should be more incentives to clear a dealer's lot.

Thanks in advance for what looks like a plethora of outstanding entries of wisdom and advice.

az_shopper

jnpurdy,

So the deal is they are offering you a Cap Cost of $30508.75 and your $5000 down would reduce that to $2508.75? If that's the case...it sounds like a very good deal to me!!

Forget about the $5000 down and you wind up with payments of $319.29 plus tax. Read through the forum and you will constantly hear not to put money down up front on a lease..

gary_william

I have been reviewing the Edmunds information about incentives and deals. I see that the infiniti G35 has manufacturer to dealer cash of 2500, and that the lease deals offer $424/month for a G35 AWD with Premium package, and require 2500 down. Can I use the dealer cash as the 2500 down and actually drive off with no money down and 424 a month for a 36 month lease? or is the rate quoted IN ADDITION to my extra 2500 on top? I know it says that dealer participation may vary, but is it the norm for dealers to give up this cash to get you in a car at the special advertised lease rate?

chloetan

Its final, but still aint sure whether its good deal. Anyways, Im getting my G35 Coupe w/ Premium Package/Splash Guard/Trunk Mat in about an hour at invoice $33,987. Lease it for 12 mths, 12,000 miles at $448 inlcuding tax, $742 drive off. I think it's an ok deal considering dealers need to make some profit. Does anyone doing a 12 mths lease? Seems too short eh? Is lease extension a hassle?

casturtroy

I finally got to a local dealership and test drove the G35 coupe. Great car. After our discussions, here was the offer:

12 Months
12,000 Miles
Loaded, excluding only Navigation and the Sports Package. It also includes the wheel upgrade (18 inch)
Didn't write down the money factor, but was at 3% when I multiplied by 24.
Zero Down
This also includes the dealership cutting us a check for $1000 to pay off our current lease (3 months left)
$599 per month

Not sure if we want to do the deal, or let our lease expire (Accord) and then negotiate when 2007's are out. However, they may be less willing to negotiate price on the 2007's.

Thanks for any advice on this deal.

casturtroy

I received a call today from the dealer offering the same car as above for 560 per month (down from 599). Good deal?

qbrozen

Didn't write down the money factor, but was at 3% when I multiplied by 24.

Wow! I hope not! Rate is money factor times 2400. so if you got 3% by only multiplying by 24, then the real rate is 300%. LOL. I'm SURE that's not true.

I dunno about the deal. Missing key info like MSRP and selling price.

I mean, for nothing down and only 12 months, $560 doesn't seem horrible ... then again, $6700 just to drive a car 12k miles is ALOT of money!

Comparing your deal to the deal above yourse, however, it seems like you are doing ok. That poster is paying $6120 over 12 months. You are paying $600 more, but rolling $1k negative equity into the deal. So, in effect, you are actually about $400 lower.

casturtroy

Sorry, times 2400. 300% is a few percentage points to many.

We're down to the G35 discussed above, and the Lexus IS350. The MSRP was 39,105 roughly, and the sales price is 35,000 (36,000 due to the $1000 cut back for the current lease). The Lexus would be acquired in Novemebr (a 2007) for 785 over invoice. 36 months, 12K miles, 0 down, everything but navigation, $580 per month.

Not sure if I want to commit to 36 months in the IS, especially since the new G will be released next year.

chloetan

Hum...the poster above Casturtroy should be me!. Grbozen, you calculated my deal to be $6120?? Yikes! But when I signed the lease, the amount is $5,670. Did I calculated wrong?

qbrozen

oops. That may be my fault.

I calculated your payment x 12 and added your drive-off ... BUT I think you are correct because your drive-off would have included first month's payment, right? So, yeah, 11 x payment plus drive-off = $5670.

so your 2 deals are actually VERY close.

amitsc

Thanks everyone for your suggestions. I eventually ended up not signing the form that said 54K and signed only the lease contract form (and other needful forms).

Over the past year, I have bought a car and lease another car; my suggestion to anyone leasing/purchasing a car would be that after you have agreed upon a payment for your lease/purchase, always begin by signing the form that fully details the payment (lease/installment) that you would be making for that car. Definitely read this form carefully and take as much time as you want. Beginning with this form is a good idea because you finalize the deal and the ball is in your court. Maybe car_man can provide feedbacks on this.

takemetolv

Shopped for a G35 sedan auto with Premium C and XM, ended up purchasing a TL but here is what I experienced

Infiniti of Coconut Creek - sporadic responses and couldn't really pin down a price

Infiniti of Palm Beach - 445 plus tax 39/12K- but then he seemed to forget that I had mentioned in each email that I wanted XM - that would be $700 extra. $700! That's twice the MSRP! Guy got all indignant when I called him on it. That was that.

Infiniti of Sawgrass - most forthcoming on the net re price. They were as follows and would have gotten better had I gone down to the dealership:
39/12K 426 plus 6% tax
36/12 459 plus tax
24/12 467 plus tax. All only first due at signing, all other costs rolled in. Good guys to deal with, would recommend them.

Infiniti of Davie - the internet manager is awesome. 429/mo tax included for 39/12 after I sent him the Sawgrass deal. 429 due, all other costs due. Great price, although the finance dept did try to screw it up by adding a bank fee at the last minute. So at least I think the deal was great, as I didn't sign. They ended up calling me after I walked out and dropped the fee, all a big misunderstanding etc. I reconsidered leasing, would definately done this deal but ended up buying the TL and getting the 2.9% financing on that - just better for my personal situation.
I would definately deal with this dealership again, they are brand new and seem eager to sell/lease cars.

That's it. Plenty of competition down here, everyone wants to get you into the dealership before they give you a price, but the savvy internet managers will give you a good price and then drop it 10/mo. when you go in. Do your own math and don't accept their bs - they will never sell you a car at a loss.

Happy hunting, and thanks to all for the input. You too Carman!

flopakq

Hello,

I am interested in leasing a g35x base.

I went to a dealer in Jersey...

15,000 miles a year.
39month lease

1610 due at sign.

390 monthly payment. (includes tax and fees)
I have no idea how he got these numbers, he said this is a special deal the manager gave him.

I was thinking of offering him 350$ a month.

Also I am getting 6k for a trade on a 2001 Cherokee Sport with 70k on it.

Let me know what you think, any help will be greatly appreciated.

Thanks,

ronnyk

I am confused by your post, flopakq.

You say you are getting $6K for your trade but only $1610 is due at signing. Are you "cashing out" for the difference or is the total amount of your trade being put towards the lease as a means of lowering the cap cost?

The cap cost, money factor and residual determine the monthly cost, so simply offering to pay less per month doesn't give me much to go on in evaluating where there is room in this deal. Generally, the MF and Residual is fixed by the leasing company, and Infiniti has a good deal right now on 39 month leases.

What is the capitalized cost you are getting on the car? I had a similarly valued trade and ended up paying $313 per month (w/ tax) on an G35x with Prem C.

flopakq

I got them to take off first month payment. So originally it was 2000 due at sign, but then they said they will deduct the first months payment of $390. Thats how I got $1610. I guess they would deduct the total due at signing from the 6k. So they would give me a check for $4390. See the dealer would not tell me the cap cost, money factor, and residual. All he said was I have a good deal for you on a 39 month lease.

Did you put the whole value of the trade as the down payment? If not how much did you put down. A payment of about 313$ a month with tax is what I am looking for. How much did you put down to get this deal, and was it in the NJ area? I understand the three factors that go into a lease but again the dealer would just give me the above info. I appreciate your input.

Thanks

ronnyk

flopakq,

The base selling price I got on my G35X was $450 over invoice. I then applied the $6K trade in total to reduce the cap cost and cover the acquisition fee and first month's payment. My money factor was .00093, which I understood to be part of the promotion that was being offered for 39-month leases. My deal was in PA. If you are reasonably close to Philadelphia, I would be happy to pass along the name of my dealer and salesperson-- they were very straight-forward and upfront (even ended up throwing in the wood trim for free on my model when the aluminum wasnn't available). You can send me an email at ronkatcher@hotmail.com and I'll pass along the info.

I am somewhat surprised at your dealer's tactics, since he/she is going to have to give you this information as part of the lease agreement. It sounds like your dealer is massaging the cap cost in order to bring down your up-front payment. It still must include the 1st month, so $1610-390-550 acquistion = $670 that is likely reducing the cap cost.

If I were you, I would press to get a copy of the "Lease Worksheet" that should show the numbers.

ncognito13

They would not tell you???....Are you kidding???...Either find another dealer or buy/lease another car. THEY HAVE TO TELL YOU ALL THE INFO ON THE LEASE.

Why would you allow yourself to be intimidated by these clowns??..IT IS YOUR MONEY....and if they aren't upfront with you walk away as fast as you can..nothing more to say to you. Get it in writing, ALL OF IT or FORGET THE DEAL.

I have a bridge to sell to you...it's a good deal I promise...LOL.

flopakq

So the dealer called me back today.

He lowered the monthly price to 350$ for 39 months with tax. Due at sign is 2000 minus first month payment which is $1650. (15k a year)

He told me the MF is .0003 and residual is 65%. He told me the cap cost is at "invoice price."

This is for a g35x with sunroof.

What do you think?

ronnyk

The numbers as provided don't seem to add up.

Of the $2K down, $350 is your first month's payment and $550 is the lease acquisition fee. That leaves $1100 which I have to assume is applied as a cap cost reduction.

Assuming nothing other than sunroof has been added, sticker is $34.9K and invoice (initial cap cost) is $32,092. When calculated with MF=.0003 and residual of 65%, and reducing cap cost to $30,992 (after subtracting the $1100), I get a payment in the $257 range (including tax, though I guessed on sales tax at 6%).

The residual rate seems high for a 39 month/15K lease, which might explain why my numbers are coming out so much lower. Are you sure about this number (normally, I would expect this to be around .55 or .56)?

Ask to see the lease worksheet. I will be happy to help evaluate once you have the numbers in writing.

stma1

Is this a good lease deal
i was quoted on a 2006 g35x with premium c package and
wood trim, lease price is 459.40 incl pa sales tax with
1100 drive off, 24 months 12 k per year, price of vehicle
is 34800 which is approx 300 over invoice, what is your opinion?

im_spartacus

Ok this is it I'm going to lease my first car. After reading this messageboard for the last few days, I got a quote from a local dealer. He said he was quoting me $800 over invoice and I verified it on edmunds. This seems really high to me. His money factors seem to not make sense, one year is really cheap and 3 years (what I told him i wanted) seems very expensive. We haven't started bargaining and have agreed that these are starting prices.

What is a good price on the car right now, are these residuals wierd, how many quotes should i get from different dealers?

I'd love input from Car_man and some of the other experienced buyers. Thanx in advance for the education.

2006 Infiniti G35 Coupe 6MT Ivory Pearl/Wheat Interior
Premium Package, Navigation, Splash Guards, Trunk Mat

MSRP 39390
Selling Price 36832

No cash down except initial payment. Includes all tax, fees and licenses.

20K miles per year (I think 12k was standard and I'm buying 16k the at .10 per mile)

12 month lease Drive Off 1014 625 per month incl tax
24 month lease Drive Off 1042 654 per month incl tax
36 month lease Drive Off 1050 661 per month incl tax

30618(78%) for 12 mos, 26573(67%) for 24 mos, and 21740(55%) for 36 mos.

Residual .00021 on the 12 month lease
.00299 on the 36 month lease.
He never gave me the residual for 24 months.

Sales tax 8.25%